bitcoin price actions were quite bearish over the past few days once again as the asset fell to $62,300 yesterday but managed to recover almost two thousand dollars since then.
Altcoins have also turned green today, with eth jumping above $3,300 and SOL reclaiming the $140 level.
btc challenges $64K
It was just over a week ago when btc underwent its fourth halving, cutting block rewards for miners in half. At the time, the asset's price had experienced high volatility amid rising tension between Iran and Israel.
After a massive drop to below $59,500, the cryptocurrency jumped over five thousand dollars and surpassed $65,000 last weekend. It continued to rise in the early days of the work week and surpassed $67,000 on a couple of occasions.
However, this was short-lived and the bears quickly reversed their trajectory. Wednesday was particularly painful when bitcoin fell to $62,800. It bounced to $65,000 on Thursday, but fell south again, falling to $62,400 on Saturday.
However, the bulls managed to intervene and btc is now trading near $64,000. Its market capitalization has approached $1.26 trillion, but its dominance over alts has dropped to 50.1%.
Alts See Green
The decline in btc's dominance metric means that most alternatives have overtaken the largest cryptocurrency. ethereum is a good example. The largest altcoin is up more than 6% in the last 24 hours and is trading above $3,300. Solana and Toncoin have posted similar gains taking them to $143 and $5.5, respectively.
More daily increases are evident in MATIC, NEAR, ICP, ETC, ARB, IMX and MKR.
The total capitalization of the crypto market, which had decreased by more than $150 billion in just a few days until Saturday, is now above $2.5 trillion, after having gained $60 billion during the night.
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